Completed 3-year strategic transformation
In brand, product, and retail channel
Strong retail sell-through
SSSG averaging mid-single-digit for 2017, high-single-digit SSSG in 4Q2017
High Dividend Payout Ratio
103.8% for 2017, continue to be above 50% since listing in 2008
Full control of retail channel
Healthy inventory level, rapid market response, increased sales efficiency
Retail channel destocking in 2017
Restocking in 2018 onwards and channel inventory currently very low at only 4 months
GP margin expansion for the 5th year in a row
Increased by 0.7pp to 43.9%
Chinese Runners’ Favorite Brand
Xtep ranked #1 among domestic brands in all three of the top marathons in China
Strong
net cash position
RMB 2,933.8 million of net cash and cash equivalents, equivalent to 55.1% of net assets
Product re-categorization
Performance sports products focused on running and Lifestyle Sports Products in international style fashion